Business
BIRD CONSTRUCTION INCOME FUND ANNOUNCES THIRD QUARTER FINANCIAL RESULTS AND NOVEMBER AND DECEMBER 2010 DISTRIBUTIONS
BIRD CONSTRUCTION INCOME FUND ANNOUNCES THIRD QUARTER FINANCIAL RESULTS AND NOVEMBER AND DECEMBER...
About this update from Bird Construction Inc.
[{"type":"text","content":"\n\n\n\n Nov. 8, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\nLISTING: TORONTO STOCK EXCHANGE\nSYMBOL: BDT.UN\n\nTORONTO, Nov. 8 /CNW/ - Bird Construction Income Fund today reported results for the nine months ended September 30, 2010. Tim Talbott, President and C.E.O. of Bird, stated that "we are pleased with our ability to maintain our third quarter construction revenues at an amount roughly equivalent to those reported a year earlier, however as expected the contribution derived from those revenues was lower than those reported a year earlier. The projects now being completed and reported in earnings reflect the lower margin work that was awarded in late 2009 and 2010 in a more competitive construction environment. We are encouraged by our ability to increase backlog to $1.2 billion in the third quarter of 2010. Looking forward, we will continue to pursue selected PPP projects and maintain our focus on operational excellence to realize the maximum return on our construction projects; and will position ourselves to participate again in the growth in oil sands infrastructure."\n\n\n >\n\n\nBird Construction Income Fund also announced that its Board of Trustees has approved its regular cash distributions for the months of November 2010 and December 2010, in the amount of $0.15 per unit each month to be paid as follows;\n\n\n >\n\n\nThis press release contains forward-looking statements that involve a number of risks and uncertainties because they relate to events and...